• Singapore - Thailand
    Tax Treaty Enters Into Force


    The Income Tax Treaty between Singapore and Thailand entered into force on 15 February 2016. Its provisions will come into effect from 1 January 2017.

    The Treaty was signed on 11 June 2015.

    In accordance with the new treaty, the following withholding taxes will apply:

    • Dividends: 10%.
    • Interest: 10%.
    • Royalties:
      • 10% if the interest is beneficially owned by any financial institution or insurance company;
      • 10% if the interest is beneficially owned by a resident of the other Contracting State and is paid with respect to indebtedness arising as a consequence of a sale on credit by a resident of that other Contracting State of any equipment, merchandise or services, except where the sale was between persons not dealing with each other at arm's length;
      • 15% in all other cases.
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